Oil eases from record high close, awaits U.S. data

(Reuters) - After seven consecutive weeks of gains, U.S. crude is testing last year's all-time intra-day high of $78.40 a barrel, fuelled by fears that OPEC's reluctance to lift production will lead to a sharp pre-winter decline in supplies.




European benchmark Brent slid 36 cents to $76.69 a barrel, having recently lagged U.S. gains spurred by a steady decline in stocks at the Cushing, Oklahoma, delivery point for the New York Mercantile Exchange contract.


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Oil falls on profit taking after closing near record

(Reuters) - Oil fell on Monday, as investors took profit after U.S. crude prices leapt more than $2 to their second-highest close on record, fuelled by upbeat signals on the U.S. economy and nagging supply worries.

U.S. crude for September delivery fell 31 cents to $76.71 a barrel in Globex electronic trading by 0733 GMT, trimming Friday's $2.07, or 2.76 percent, surge that took oil to just a cent shy of its record-high settlement price of $77.03, marked on July 14, 2006.


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US stock indexes flat as oil offsets credit concerns

(Reuters) - U.S. stocks were little changed on Thursday, as rising oil prices boosted energy stocks, offsetting credit concerns.

Energy stocks such as Exxon Mobil gained 2 percent after U.S. crude for July delivery jumped 62 cents, or 0.9 percent, to $69.47 a barrel on the New York Mercantile Exchange on renewed supply concerns.


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US STOCKS-Wall St rises on energy gains, growth optimism

(Reuters) - NEW YORK, June 14 - U.S. stocks advanced on
Thursday as rising oil prices sent shares of energy companies
including Exxon Mobil Corp. higher, offsetting
disappointment over profit reports from Bear Stearns
and Goldman Sachs .




Exxon shares led advances on both the Dow and the S&P 500
as U.S. crude for July delivery rose 1.4 percent to
$67.19 a barrel on fresh supply concerns.


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Oil steady as U.S. gasoline stocks seen climbing

(Reuters) - London Brent crude , currently seen as more representative of the global market, was 9 cents down at $68.70 a barrel by 0724 GMT, after a 77 cent drop on Tuesday. U.S. crude fell 3 cents to $65.32 after a 62 cent fall.




U.S. gasoline stocks were forecast to have risen by 1.7 million barrels last week as refinery usage increased, a Reuters poll of analysts said , though analysts said demand was still looking strong in the world's top consumer.


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Crude Oil Falls for First Day in Four Amid Signs U.S. Stockpiles Are Ample

(Bloomberg) -- Crude oil fell for the first time in
four trading days in New York amid speculation that U.S.
stockpiles are sufficient to meet the needs of refineries making
gasoline for the peak-demand summer months.

U.S. crude oil supplies in the week ended May 25 were 7.2
percent higher than the five-year average for the period, the
Energy Department said May 31. Eighteen of 46 analysts surveyed
by Bloomberg News last week, or 39 percent, said oil prices would
decline this week.


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Oil falls $1 after Nigeria oil strike ends

(Reuters) - London Brent crude fell $1.05 to $69.64 a barrel by 1200 GMT. U.S. crude fell 69 cents to $64.51 a barrel, after surging more than $1.00 on Friday. The market was thin due to holidays in both the UK and the United States.




Nigerian Union leaders said on Saturday workers at the national oil company had suspended the two-day strike after the government agreed to a pay rise and other benefits, although oil traders remained anxious over exports.


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Oil rises ahead of report on Iranian atomic advances

(Reuters) - Benchmark London Brent rose 21 cents to $69.73 by 0247 GMT. It fell 97 cents to settle at $69.52 on Tuesday amid expectations that the weekly U.S. government storage report will show a build-up in crude and gasoline supplies.




U.S. crude rose 9 cents to $65.60.


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Crude-Oil Prices Drop After Canadian Pipeline Resumes Shipments to U.S.

(Bloomberg) -- Crude oil fell below $62 a barrel in New York after Enbridge Inc., which supplies Canadian oil to the U.S., resumed shipments through a pipeline that was shut because of a leak.

The pipeline segment that ruptured was replaced and deliveries started yesterday at 5:40 p.m. Calgary time, the company said. The June through September futures contracts were down less than the May contract amid speculation U.S. crude-oil demand will surge. A government report yesterday showed that refiners bolstered operating rates by 2 percentage points.


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Oil slumps to below $59

Oil fell more than a dollar to below $59/barrel on Monday, pressured by expectations Opec will not reduce production when it meets this week in Vienna.
US crude was $1.24 lower at $58.78 /barrel by 14:49 GMT. London Brent crude was down 84c at $60.33.

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Oil falls below $60 on Q2 excess supply worries

Oil fell below $60 on Monday, extending the previous session's decline, as investors saw OPEC keeping output steady at its meeting this week despite a seasonal dip in demand in the second quarter.

U.S. crude fell 32 cents to $59.73 a barrel by 0024 GMT, marking the third consecutive session of decline after sliding $1.59 or 2.6 percent on Friday. London Brent crude was down 13 cents at $61.00.

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